Assembly Bill No. 393–Assemblyman Goldwater

 

March 17, 2003

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Referred to Committee on Commerce and Labor

 

SUMMARY—Revises provisions relating to public works projects. (BDR 28‑996)

 

FISCAL NOTE:  Effect on Local Government: No.

                           Effect on the State: No.

 

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EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

 

AN ACT relating to public works; prohibiting a public body from withholding payment from contractors in excess of retainage in certain circumstances; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

 

1-1  Section 1. Chapter 338 of NRS is hereby amended by adding

1-2  thereto a new section to read as follows:

1-3  1. Except as otherwise provided in subsection 2 and NRS

1-4  338.515 and 338.525, a public body and its officers or agents

1-5  awarding a contract for a public work shall not withhold payment

1-6  from the contractor in excess of retainage.

1-7  2.  The prohibition set forth in subsection 1 does not apply

1-8  with respect to any and all liquidated damages that the contractor

1-9  is contractually obligated to pay in the event that the contractor

1-10  breaches the contract.

1-11      Sec. 2.  NRS 338.400 is hereby amended to read as follows:

1-12      338.400  As used in NRS 338.400 to 338.645, inclusive, and

1-13  section 1 of this act, unless the context otherwise requires, the

1-14  words and terms defined in NRS 338.405 to 338.450, inclusive,

1-15  have the meanings ascribed to them in those sections.

 

1-16  H